India's Forex Reserves Decline After Two Consecutive Weekly Rises

According to the data released by RBI, India's total forex reserves stood at $601.057 billion in the week ending June 3, 2022, down by $306 million compared to $601.363 billion in the previous week. Meanwhile, foreign currency assets declined by $208 million in the week under review to $536.779 billion compared to $536.988 billion in the week ending May 27, 2022. Gold reserves slipped by $74 million in the week ending June 3, to $40.843 billion. On the other hand, the reserve position in IMF jumped $5 million to $5.025 billion in the week ending June 3 against $5.019 billion in the previous week.

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